R&D Tax Credits for
Engineering activity and R&D Tax Relief.
Research & development is characterised by seeking advances, overcoming challenges and resolving scientific or technological uncertainty. These processes often occur within engineering - making this industry highly eligible to claim R&D Tax Credits.
Qualifying engineering expenditure for R&D Tax Credits.
Creating innovative computer numerical control programs.
The development of new construction equipment, or enhancement of existing equipment.
The development of novel heating and air conditioning systems.
Processes involving the use of consumables such as light, heat and power.
Design and development of sustainable energy infrastructure.
Introducing innovative designs for bridges and road structures.
R&D Tax Credits, explained.
What are R&D Tax Credits?
The Government implemented the Research and Development Tax Credits (R&D Tax Credits) Scheme to help fuel innovation in the UK, by rewarding companies bringing new products, processes or services to market.
How do R and D Tax Credits work?
Companies that spend money developing new products, processes or services - or enhancing existing ones - are eligible to claim R&D Tax Credits. If you're spending money on innovation, you can file for R&D tax relief and receive it either a cash payment or a Corporation Tax reduction from HMRC.
Is my engineering business eligible for R&D tax relief?
To make an R&D Tax Credit claim, you must meet the following criteria:
Be a UK limited company that is subject to Corporation Tax
Have carried out qualifying research and development activities
Have spent money on these activities
Our end-to-end R&D Tax Credits Service.
The HMRC-recommended approach to R&D Tax Credits.
Fixed Fee, no upfront costs.
We take the stress away from claiming R and D Tax Credits. Our specialists complete both the Financial and Technical reports and submit your R & D claim to HMRC so you don't have to.
We're so confident in our end-to-end R&D Tax Credits service that our fixed fee is charged only upon success.
R & D Claim completion within 3-5 working days
End-to-end R&D Tax Credits service
Financial & Technical Report completion
Dedicated Account Manager & R&D Tax Specialist
100% Success Rate
Full HMRC Enquiry Support at no extra cost
Trusted by engineering companies.
FAQs: Engineering R&D Tax Credits.
Is there a minimum spend associated with filing R&D Tax Credits?
No! There is no minimum amount of R&D expenditure that qualifies you to claim R&D Tax Credits. As soon as your start spending, you can start claiming!
Once my R & D claim is approved, how long does it take to receive the benefit?
HMRC aims to pay out R&D tax credits within 28 days. Typically, we see our clients receive their benefit from HMRC within 4-6 weeks.
Can I claim R&D tax relief on engineering subcontractors?
Yes! Costs for consultants and subcontractors anywhere in the world can be claimed.* Under the SME R&D Tax Credits scheme, you can reclaim 65% of money paid to any unconnected subcontractor working on eligible engineering R&D.
*As of April 2024, you can only claim subcontractor costs from manufacturing occurring within the UK.
Can travel expenses be included in my R & D Tax Credit claim?
Yes, travel expenses (i.e - flights and hotels) can be claimed within your R&D tax credits. But for these costs to be included in the R & D claim, employees must have paid for them as an out-of-pocket expense on their personal card and been reimbursement by the business.
Which areas of my engineering expenditure can be included in my R & D claim?
Research & Development tax credits (R&D Tax Credits) allow you to claim up to 27% of costs related to staffing, subcontractors and consultants, hardware, software, and consumables!
What is Claim Capital's success rate with R and D Tax Credits?
We're proud to uphold a 100% success rate across all sectors, including engineering. Our R & D claim sizes currently vary between £10,000 and £1.2m.